Australia: Borates Market 2024

Borates Market Size in Australia

In 2022, the Australian borates market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, showed a slight downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Borates Exports

Exports from Australia

After four years of growth, shipments abroad of borates decreased by X% to X tons in 2022. Over the period under review, exports, however, posted notable growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, borates exports surged to $X in 2022. Overall, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons), New Zealand (X tons) and Papua New Guinea (X tons) were the main destinations of borates exports from Australia, together comprising X% of total exports. Belgium, South Korea, Germany, France, Singapore, Ireland, Gabon, the UK, Vietnam and Canada lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Gabon (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for borates exported from Australia were the United States ($X), Belgium ($X) and France ($X), with a combined X% share of total exports. Gabon, Germany, South Korea, Vietnam, Singapore, Canada, the UK, New Zealand, Papua New Guinea and Ireland lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Gabon, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average borates export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price showed a strong increase. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Gabon ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Borates Imports

Imports into Australia

In 2022, supplies from abroad of borates increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, borates imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Turkey (X tons) and China (X tons) were the main suppliers of borates imports to Australia, with a combined X% share of total imports. Argentina, Canada, Malaysia and Peru lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest borates suppliers to Australia were the United States ($X), Turkey ($X) and China ($X), together accounting for X% of total imports. Canada, Argentina, Malaysia and Peru lagged somewhat behind, together accounting for a further X%.

Canada, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average borates import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, borates import price increased by X% against 2017 indices. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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